Skip to content

JPMorgan Strategists Ditch Their Long-Ruble Call Over Ukraine Standoff

  • Longs have become ‘untenable’: JPM’s Christovova and Harrison
  • Currency slumped 5.1% this month, worst in emerging markets

Strategists from JPMorgan Chase & Co. are no longer recommending that clients position for Russian ruble gains, citing high uncertainty as tensions over Ukraine simmer. 

“Our existing long recommendations have become untenable,” strategists Anezka Christovova and Michael Harrison wrote in a Jan. 24 note. “We cannot with high confidence dismiss negative scenarios.”